Test: Chapter 11 Test This Question: 3 pts Time Remaining 01:1205 Submit Tost 9o

Question

Test: Chapter 11 Test This Question: 3 pts Time Remaining 01:1205 Submit Tost 9of15(6complete) This Test: 45 pts possible Arthur Electronics reported the following amounts on its 2016 income statement Year Ended December 31,2016 Net income Income tax expense Interest expense $ 52,500 7,875 What is Arthur's times-interest-eamed ratio for 2016? (Round the answer to two decimals) Choose from any list or enter any number in the input fieilds and then continue to the next question Activity Details You have viewed this topic Last Visited Dec 3, 2017 11.20 PM MacB FI F5 0

Explanation / Answer

Arthur Electronics Income Statement for 2016 Net Income before Interest & Tax 52500 Less: Interest Expense 4375 Income before Tax 48125 Less: Income Taxes 7875 Income after Tax 40250 Times Interest-earned Ratio Net Income before Interest & Tax/Interest Expense 52500/4375 12.00 Times

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